The Westport real estate market closed June with a YTD increase of 9.7% in 203 sales. The market’s strength was based in the $1-2 million price range, which produced 92 sales for a YTD increase of 22.6%.

Listing inventory totaled 421 active properties, which is a 4.5% decrease from 2016 and similar to level from 2 years ago (422). A stable rate of sales and reduction in inventory dropped the absorption rate from 9 (May) to 8 months (which is the same total as June 2016).

Pricing indexes were up with the median at $1,425,000 (+9.6) and the average at $1,642,161 (+4.7%).

The Westport market boasts a strong pipeline with 92 sales, up from 72 in 2016. 35 are CTS (binder) and 62 pending (contract). Among these 46 are $1-2 million, 15 are $2-3 million, 3 are $3-4 million and 1 is over $4 million. July 2016 generated 33 sales, with 62 sales in contract; the Westport market is poised for a step forward this month.